Granny Warren and pot store banking....

[mbullism]

So I'm hearing on tonights news that Elizabeth is championing access of pot dispensaries to "equal banking" for pot stores because they are discriminated against by lenders...

Isn't this the same woman that spearheaded targeting the financing of legal FFl's through normal banking channels to put folks out of business?

Maybe I missed the Constitutional amendment regarding drug use...or was that the "pursuit of happiness" part?

 

[Snora]

It's not discrimination when banks are saying "we're afraid the Feds can confiscate the money." Different scenario than an FFL as far as I know. Also, WAY more money (taxes) at stake with pot than guns.

 

[dontpanic]

Banks are reluctant to take deposits from dispensaries since pot is still illegal at the federal level.

ETA: Snora beat me to it.

 

[jkelly1229]

Lol equal banking even tho opening a pot store requires so much crap it's not worth it

 

[Mass-diver]

Lol equal banking even tho opening a pot store requires so much crap it's not worth it

Colorado sales are 1billion a year, you really don't think that's "worth it the banks' trouble if it weren't for prohibition at the federal level?

 

[Frizzle Fry]

Isn't this the same woman that spearheaded targeting the financing of legal FFl's through normal banking channels to put folks out of business?

Yes.

"Operation Choke Point" was in its prime, an "initiative" by the feds to investigate so-called "high-risk" businesses which they believed were more likely to be involved in fraud, money laundering, or other illegal activities. Some of the types of businesses were logical (small charities, pyramid sales, escort services, payday loans, get-rich schemes, online gambling, etc) while others were legitimate businesses that have existed since the birth of our nation and are already highly regulated/licensed (firearm sellers, ammunition manufacturers, tobacco sellers, lottery agents). The latter group of course were "Obama doesn't like it" industries - including "racist publications" which, while not closely regulated, was a confusing addition because it raised 1st amendment questions.

Part of the "initiative" involved the FBI "advising" banks of the legal and financial risk of carrying accounts for these types of business, and the FDIC encouraging banks not to open accounts for them at all. It involved the mailing of registered letters from the DOJ, bulletins with fake-news style scare tactics, official FDIC letters, and in-person intimidation from federal officials.

Liz Warren was VERY outspoken when a bill was proposed which would curb Operation Chokepoint. I can't find a link to the video of her TIRADE but here it is:
http://thehill.com/policy/finance/268223-house-passes-bill-to-curb-operation-choke-point

Interesting to note that it also interfered with makers of "drug paraphernalia" (ie bongs, pipes, herb grinders, vaporizers).

 

[MAGA99]

Logic and liberals don't mix. Yall should know this by now.

 

[1919FAN]

Had me fooled I thought she was a crack advocate.

 

[Rob Boudrie]

I wonder what her stand on Peyote is.

 

[W.E.C]

Perhaps sha has had a visit from delahunt lobbying group,
headed by the ex 10th district congressman who has an interest in medical marijuana and Indian gaming in south east ma.

Vice ,money ,and politicians , Common as flies on dung.

eta: and smell the same.

 

[Mountain]

Logic and liberals don't mix. Yall should know this by now.

Actually this one IS logical...

Fauxcahontas losing any votes (not already lost) for supporting Operation Chokepoint?

One more reminder of the thuggery involved with the current administration.

 

[doxdsgn]

A very connected individual told her they figured out a way to monetize pot and to stay the hell out of the way.

 

[MAGA99]

Actually this one IS logical...

Fauxcahontas losing any votes (not already lost) for supporting Operation Chokepoint?

One more reminder of the thuggery involved with the current administration.

Oh it sure makes a lot of sense for her getting votes wise!! It just doesn't make sense given her past whining about denying banking services to groups that she doesn't like.

I guess saying that liberals and consistency don't mix would have been more accurate, but I liked the ring of logic.

 

[Spanz]

this is pretty simple and CLEARLY a democratic party priority.

If you can not use the banking system, you have to do business in cash purely.

If it is a cash run business, it is easy to hide the profits from the IRS.

If the IRS can not see the financies, they can not tax the business fully.

If they can not tax this new line of businesses, Granny warren will not be able to steal all our money and give it to illegal aliens. Hence her panties being in a bunch

(Republicans would like this, since they can see the finances better and keep organized crime out of the business)

 

[rocket500]

Yep, legal pot is a money grab by the government. F-ing terrible idea I think.

 

[Dennis in MA]

this is pretty simple and CLEARLY a democratic party priority.

If you can not use the banking system, you have to do business in cash purely.

If it is a cash run business, it is easy to hide the profits from the IRS.

If the IRS can not see the financies, they can not tax the business fully.

If they can not tax this new line of businesses, Granny warren will not be able to steal all our money and give it to illegal aliens. Hence her panties being in a bunch

(Republicans would like this, since they can see the finances better and keep organized crime out of the business)

Yep.

I was listening to a Freakanomics podcast a few months ago. Some guy was advocating getting rid of paper money in order to reduce the drug trade.

I tend to respect the Freakies most of the time, but that was too much. As if!

They went on to say that a big reason we'd want this is because the Fed could control the money supply if it didn't have to compete with individuals holding dollars. In effect, it could create negative interest rates and do whatever it wanted to "help the economy."

????

Of course, the tried and true argument was "well everyone else is doing it."

I could hear my mom saying "If everyone else was jumping off of bridges, would you do it?"

The goal of many in government is control of the $. Could you imagine if we didn't have cash??? Cash to the economy is like gun ownership to individual freedoms. They go hand in hand.